News
Bloomberg |
Consumers Will Keep Spending as U.S. Hurdles Fade: Economy
American consumers, who kept shopping through rising fuel costs and delayed tax refunds, will probably continue buoying the world’s largest economy as these hurdles dissipate.
Market Watch | Feb. national activity index back above zero
The national activity index swung back into positive territory in February, led by production-related indicators, the Chicago Fed said Monday. Its national activity index rose to +0.44 from a downwardly revised -0.49 in January. The three-month moving average slipped to a reading of +0.09 from +0.28.
Econ Comments & Analysis
WSJ | A Better Strategy for Faster Growth
At last count, 38 million working-age households received benefits from at least one federal welfare program.
Washington Post | U.S. economy shows signs of strengthening
Despite indisputable evidence that the economy is expanding economic conditions have been dismal.
Forbes | Uber, The Amazing Car Service, Lays Waste to Worry About Income Inequality
Uber’s rise as a business reminds us that the achievers of great wealth almost invariably grow rich for improving the lives of others, including their employees.
Blogs
WSJ: Real Clear Markets | Mortgage Securitizers Didn’t Know Housing Was Going Bust
A popular explanation for why the housing bubble happened says that unbalanced incentives within the financial system were to blame.
Econlog | Some Economics of Wal-Mart
One thing that you don't mention is the minimum wage. Wal-Mart supported increasing the minimum wage a few years ago. The reason, I believe, is that they want to price out of business their lower-wage, Mom-and-Pop competitors.
Mercatus Center | Shortfalls in non-profit disaster rebuilding
Social entrepreneurs face strong incentives to work well toward their objectives because their donors hold them accountable and they typically are involved in a cause because of their passion for it.
Monday, March 25, 2013
Health Care
Econ Comments & Analysis
Washington Times | HOLLERAN: It’s never too soon to repeal Obamacare
President Obama insists that his signature law, which goes into full effect next year, is a radical improvement. Its opponents, especially conservatives, argue that it’s a radical change for the worse.
WSJ | Medicaid-Expansion Puzzle
Deciding whether to expand Tennessee's Medicaid program as part of the federal health-care law should be easy for Republican Gov. Bill Haslam and the GOP leaders of the state legislature.
Washington Times | EDITORIAL: No candles for Obamacare
There’s no cause to celebrate this overstuffed turkey.
Heritage Foundation | Medicare’s Rising Costs — and the Urgent Need for Reform
The rising cost of Medicare is placing an increasing burden on current and future taxpayers, as well as exacerbating the poor financial condition of a program on which America’s seniors depend in their retirement.
Blogs
Heritage Foundation | Obamacare at Three Years: Increasing Cost Estimates
Over the last three years, the Congressional Budget Office (CBO) has revised its cost estimates for Obamacare’s new entitlements—the Medicaid expansion and exchange subsidies—many times, and they have more than doubled since 2010.
Washington Times | HOLLERAN: It’s never too soon to repeal Obamacare
President Obama insists that his signature law, which goes into full effect next year, is a radical improvement. Its opponents, especially conservatives, argue that it’s a radical change for the worse.
WSJ | Medicaid-Expansion Puzzle
Deciding whether to expand Tennessee's Medicaid program as part of the federal health-care law should be easy for Republican Gov. Bill Haslam and the GOP leaders of the state legislature.
Washington Times | EDITORIAL: No candles for Obamacare
There’s no cause to celebrate this overstuffed turkey.
Heritage Foundation | Medicare’s Rising Costs — and the Urgent Need for Reform
The rising cost of Medicare is placing an increasing burden on current and future taxpayers, as well as exacerbating the poor financial condition of a program on which America’s seniors depend in their retirement.
Blogs
Heritage Foundation | Obamacare at Three Years: Increasing Cost Estimates
Over the last three years, the Congressional Budget Office (CBO) has revised its cost estimates for Obamacare’s new entitlements—the Medicaid expansion and exchange subsidies—many times, and they have more than doubled since 2010.
Monetary
Econ Comments & Analysis
Bloomberg | Faster Growth Could End Fed’s War on Deflation
The aggressive stimulus programs undertaken by the Federal Reserve have partly been motivated by a growing fear of deflation.
WSJ | Bernanke's World War II Monetary Regime
The Fed's real goal in keeping interest rates low is to finance government debt and deficits.
Cato Institute | Hyperinflation? No. Inflation? Yes.
Until we return to a stable, rule-bound international monetary system, inflation will continue to be source of anxiety in economies and asset markets around the world.
Bloomberg | Faster Growth Could End Fed’s War on Deflation
The aggressive stimulus programs undertaken by the Federal Reserve have partly been motivated by a growing fear of deflation.
WSJ | Bernanke's World War II Monetary Regime
The Fed's real goal in keeping interest rates low is to finance government debt and deficits.
Cato Institute | Hyperinflation? No. Inflation? Yes.
Until we return to a stable, rule-bound international monetary system, inflation will continue to be source of anxiety in economies and asset markets around the world.
Taxes
News
Washington Times | Md. drivers could face eventual doubling of gas tax
The bill would mean motorists could expect to pay 13 to 20 cents more for a gallon of gas by the time it is fully implemented in 2016.
Econ Comments & Analysis
Washington Times | Senate weighs support for taxing Internet sales
Online sales taxes are not new, but thus far, Internet retailers have been exempt from collecting it, much to the chagrin of their brick-and-mortar peers who enjoy no such exemption.
Washington Times | Md. drivers could face eventual doubling of gas tax
The bill would mean motorists could expect to pay 13 to 20 cents more for a gallon of gas by the time it is fully implemented in 2016.
Econ Comments & Analysis
Washington Times | Senate weighs support for taxing Internet sales
Online sales taxes are not new, but thus far, Internet retailers have been exempt from collecting it, much to the chagrin of their brick-and-mortar peers who enjoy no such exemption.
Employment
News
CNN Money | Meat industry rescues federal workers
Over 9,000 federal food inspectors won't face furloughs after top companies from the meat and poultry industries spoke out in support of them.
WSJ | Government Payrolls Are Facing New Pressures
Governments bled hundreds of thousands of jobs after the U.S. economic recovery started. Now they're preparing to pass the knife around again as the federal budget comes under pressure.
Econ Comments & Analysis
RCM | There's Lots of 'Abnormal' In 'New Normal' Joblessness
If 2008's labor force participation rate of 66% prevailed today, instead of February's depressed 63.5%, then there would be over six million more in the labor force and the unemployment rate would be an incredible 11.6% - the highest in the BLS' records!
Blogs
Heritage Foundation | Garbage Collecting a Green Job? According to Government, Yes!
As we have noted, the BLS definition of green jobs is so bizarre that the total counts are meaningless.
WSJ: Real Time Economics | Number of the Week: Employers’ Benefits Costs
Nearly a third of employers’ costs per worker goes to benefits on top of regular wages and salaries, and the share is even greater in some industries.
Café Hayek | Minimum and Average Wages
Clearly, though, nearly all workers are better off at the lower minimum wage than at the higher minimum wage.
CNN Money | Meat industry rescues federal workers
Over 9,000 federal food inspectors won't face furloughs after top companies from the meat and poultry industries spoke out in support of them.
WSJ | Government Payrolls Are Facing New Pressures
Governments bled hundreds of thousands of jobs after the U.S. economic recovery started. Now they're preparing to pass the knife around again as the federal budget comes under pressure.
Econ Comments & Analysis
RCM | There's Lots of 'Abnormal' In 'New Normal' Joblessness
If 2008's labor force participation rate of 66% prevailed today, instead of February's depressed 63.5%, then there would be over six million more in the labor force and the unemployment rate would be an incredible 11.6% - the highest in the BLS' records!
Blogs
Heritage Foundation | Garbage Collecting a Green Job? According to Government, Yes!
As we have noted, the BLS definition of green jobs is so bizarre that the total counts are meaningless.
WSJ: Real Time Economics | Number of the Week: Employers’ Benefits Costs
Nearly a third of employers’ costs per worker goes to benefits on top of regular wages and salaries, and the share is even greater in some industries.
Café Hayek | Minimum and Average Wages
Clearly, though, nearly all workers are better off at the lower minimum wage than at the higher minimum wage.
Budget
News
Politico | Bailout keeps Cyprus afloat
Cyprus secured a 10 billion euro ($13 billion) package of rescue loans in tense, last-ditch negotiations early Monday, saving the country from a banking system collapse and bankruptcy.
Econ Comments & Analysis
Washington Times | MESSER: The budget road less traveled
The House plan takes a path less frequented by politicians. It’s a path where we don’t promise everything to everyone. It’s a path that controls spending sensibly so we can spend the limited resources we have on the programs we need.
Blogs
CBO | The Accuracy of CBO’s Budget Projections
CBO routinely monitors the budgetary effects of enacted legislation to help improve projections of spending and receipts under current law, as well as to improve cost estimates for new legislative proposals.
Politico | Bailout keeps Cyprus afloat
Cyprus secured a 10 billion euro ($13 billion) package of rescue loans in tense, last-ditch negotiations early Monday, saving the country from a banking system collapse and bankruptcy.
Econ Comments & Analysis
Washington Times | MESSER: The budget road less traveled
The House plan takes a path less frequented by politicians. It’s a path where we don’t promise everything to everyone. It’s a path that controls spending sensibly so we can spend the limited resources we have on the programs we need.
Blogs
CBO | The Accuracy of CBO’s Budget Projections
CBO routinely monitors the budgetary effects of enacted legislation to help improve projections of spending and receipts under current law, as well as to improve cost estimates for new legislative proposals.
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